ESMA launched the long-anticipated selection procedure for a European Consolidated Tape Provider (CTP) for shares and ETFs. The consolidated tape mandate will be awarded based on a range of criteria including operational resilience, neutrality, data quality, and cost-efficiency.
The consolidated tape is a central part of the EU’s push to improve market transparency and integrate its capital markets. By aggregating post-trade data from trading venues across the EU, the tape aims to provide a single, standardised source of information for equities and exchange-traded funds, something market participants have long called for.
The selection process is a key milestone in implementing the EU’s Capital Markets Union and is expected to attract competition from multiple bidders. For post-trade participants, the introduction of a consolidated tape could significantly change how data is accessed and used, particularly in areas such as transaction cost analysis, best execution, and regulatory reporting.
EuroCTP
EuroCTP confirmed that it will submit a bid inn a press release. The company says it has spent over 18 months preparing its systems in line with ESMA’s technical and governance requirements, working closely with stakeholders across the industry. EuroCTP states that it is working with several technical partners and plans to bring in additional collaborators if it is selected.
